Rushden-based Spire Homes to invest Â£10.8 million in affordable housing in Northamptonshire
Spire Homes is to invest more than Â£10 million in building hundreds of affordable houses in Northamptonshire.
The investment will boost its development programme up to £28 million in the region, which will see the delivery of more than 400 homes in the county over the next two years.
The latest venture will see Spire, which is based in Rushden and is part of the Midlands-based Longhurst Group, build 78 houses and four flats at the former Green Oaks Lower School site in Bective Road, Northampton.
It is expected that planning permission will be given later this year and the development will be backed with a £210,000 affordable homes grant from the Homes and Communities Agency.
Work should begin on site in January 2017 in partnership with Westleigh Partnerships Ltd and Northampton Borough Council.
The mix of properties will include 20 affordable rent, 31 shared ownership and 31 for market sale homes.
Spire Homes is already working on a regeneration project with Persimmon Homes at the former Princess Marina hospital site in Northampton, to build 174 affordable homes as part of wider plans for 500 homes.
The housing association has also started work on a former factory site at Allen Road in Rushden, building 46 affordable homes, and incorporating part of the existing factory frontage as the street façade for some of the homes.
Ian Jackson, executive director of portfolio investment at the Longhurst Group, said: “We continue to build more and more homes, despite the uncertainty around Brexit and the implications house builders are facing.
“This is coupled with the cuts in rents for registered providers and the introduction of grant purely for sales products.
“We want to continue to invest in Northamptonshire with Spire Homes.
“There’s a huge demand for affordable housing across the region and we’ve been careful to ensure our development programme reflects this.”
An additional 112 affordable homes are also expected to be completed by Spring 2017 at sites in Raunds, Thrapston and Higham Ferrers.
Mr Jackson added: “We’re providing homes for rent and shared ownership, and for the first time in Northamptonshire, we are introducing homes for outright sale.
“Although this takes us outside the realms of providing purely affordable homes, we will be able to use proceeds from sales towards building more affordable homes.
“This is vital for helping local people on lower incomes remain close to family, friends and work.”
Spire Homes is a member of the Longhurst Group which owns and manages more than 18,900 homes across the Midlands and the East of England, and is an independent provider of care and support services.
Locally, Spire Homes manages more than 5,000 homes in towns and villages throughout Northamptonshire, Rutland and Leicestershire.